Muncie, Indiana Housing Market Prices
Muncie Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 46% below the Indiana median$76,529
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Median rent 16% below the Indiana median$894
Housing Market Overview
| Metric | Muncie | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $76,529 | $142,738 | $248,835 |
| Price Trend (Annual %) | 11.3% | 7.2% | 7.5% |
| Median Gross Rent | $894 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Muncie is about 46% lower than in Indiana. Rent is about 16% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Muncie, up about 11.3% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Muncie rose about 30.7% between 2015 and 2024, from $684 to $894. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Muncie.
Buying the median-priced home in Muncie costs roughly 7.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Muncie. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Muncie | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $76,529 | $142,738 | $248,835 |
| Median Household Income | $44,616 | $71,967 | $80,455 |
| Price-to-Income Ratio | 1.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Muncie rose about 54.4%, while median household income rose about 46.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Muncie | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.7% | 64.4% | 58.5% |
| Rental Rate | 41.3% | 26.9% | 31.2% |
| Vacancy Rate | 14.0% | 8.8% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Muncie has a homeownership rate of 44.7%, lower than the Indiana average of 64.4%. Its housing vacancy rate is 14.0%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Muncie | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1963 | 1975 | 1978 |
| Median Number of Rooms | 5.2 | 5.9 | 5.5 |
The typical housing unit in Muncie was built around 1963. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Muncie, Indiana.
What is the median home price in Muncie, Indiana?
The median home price in Muncie, Indiana is $76,529, lower than the Indiana average of $142,738.
What is the average home price in Muncie, Indiana?
The typical home price in Muncie, Indiana, reported as the median sale price, is $76,529. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Muncie, Indiana?
The median gross rent in Muncie, Indiana is $894 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Muncie in 2020?
In 2020, the median gross rent in Muncie, Indiana was $714 per month.
What is the price-to-rent ratio in Muncie, Indiana?
The price-to-rent ratio in Muncie, Indiana is about 7.1, meaning it would take roughly 7.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Muncie.
Are home prices or rent rising faster in Muncie, Indiana?
Both home prices and rent are rising in Muncie, up about 11.3% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Muncie, Indiana?
44.7% of households in Muncie, Indiana own their home, lower than the Indiana average of 64.4%.
What is the vacancy rate in Muncie, Indiana?
The housing vacancy rate in Muncie, Indiana is 14.0%, higher than the Indiana average of 8.8%.
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